a) Consider a good whose own price elasticity of demand is -0.5 and price elasticity of supply is 1.5. The fraction of a specific tax that will be passed through to consumers is? (Please provide the solution)

a) 0

b) 1

c) 0.25

d) 0.5

e) 0.75

b) In the figure above (please, see, it is attached below), if a minimum wage of $12 per hour has been imposed and the labor demand curve then shifts fromD0toD1the wage rate ________ and the amount of employment ________. (Answer should be whether they rise, fall, increase, decrease or does not change).

Wage rate (dollars per hour) 14 12 10 D1 Do 0 10 20 30 40 50 60 Quantity (millions of hours per year)